For most families, there always seems to be a long list of home improvement projects that they would like to get done or new ideas they’d like to attempt. While a few may not be necessities, getting a new heat pump is a job that could be key to keeping your indoor space comfortable throughout the cooler months in Philadelphia.

Getting a new heat pump is a sizeable investment. You’ll definitely see the return on investment on your indoor comfort along with your energy bills, but it may be a little overwhelming at first. The good news is that when you purchase a new energy-efficient heat pump, you could be eligible for a federal tax credit.

According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were pushed through December 31, 2020. In order to get the tax credit, you must select a heat pump that has earned the ENERGY STAR label. When browsing for heat pumps, keep an eye out for types with the ENERGY STAR rating so you can be certain you’re getting a high-efficiency heat pump.

At Retro HVAC Service & Installation, our experts help you pick a solution that meets your needs and ensures you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, it’s important to confirm the heat pump you buy has the following requirements.

For Split Systems:

  • Heating Seasonal Performance Factor (HSPF): 8.5 or higher
  • Energy Efficiency Ratio (EER): 12.5 or higher
  • Seasonal Energy Efficiency Ratio (SEER): 15 or higher

For Package Systems:

  • HSPF: 8 or higher
  • EER: 12 or higher
  • SEER: 14 or higher

This tax credit will not be the only savings you’ll receive when you get a new high-efficiency heat pump. Many of the most efficient solutions can save you hundreds of dollars on your energy costs all year long. And your household will also have more confidence in your HVAC system to keep your house at just the right temp.

When you think of questions regarding your eligibility for a tax credit, or if there are further local savings you could be eligible for by purchasing a new high-efficiency heat pump, give our experts at Retro HVAC Service & Installation a call at 267-277-3851. You could also visit ENERGY STAR or reach out to your local utility establishment if you have questions about other eligible home products.